Dick Smith in store decline

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#1498697 24-Feb-2016 18:02

Could be an announcement tomorrow perhaps:

http://www.channelnews.com.au/industry/sales_and_marketing/6AW142BC-exclusiveformer-best-buy-company-makes-offer-for-dick-smith-tipped-to-be-accepted.aspx

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33coupe

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#1498701 24-Feb-2016 18:13

amiga500: Please someone must know what Dick Smith is demonstrating at the counter??

I'm pretty sure it's a spelling device, as it looks very similar to one that I had.

I'm loving the speak and spell on the wall as well!

richms

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#1498705 24-Feb-2016 18:18

LostBoyNZ:

Could be an announcement tomorrow perhaps:

http://www.channelnews.com.au/industry/sales_and_marketing/6AW142BC-exclusiveformer-best-buy-company-makes-offer-for-dick-smith-tipped-to-be-accepted.aspx

Fingers crossed that it happens.

Richard rich.ms

amiga500

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#1498756 24-Feb-2016 19:57

33coupe:
amiga500: Please someone must know what Dick Smith is demonstrating at the counter??

I'm pretty sure it's a spelling device, as it looks very similar to one that I had.

I'm loving the speak and spell on the wall as well!

Many thanks. Spelling device that would make sense.

amiga500

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#1498761 24-Feb-2016 20:08

LostBoyNZ:
Could be an announcement tomorrow perhaps:

http://www.channelnews.com.au/industry/sales_and_marketing/6AW142BC-exclusiveformer-best-buy-company-makes-offer-for-dick-smith-tipped-to-be-accepted.aspx

From a quick read it does not seem that Five Star has very deep pockets either...

tripp

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#1498763 24-Feb-2016 20:10

richms:

LostBoyNZ:

Could be an announcement tomorrow perhaps:

http://www.channelnews.com.au/industry/sales_and_marketing/6AW142BC-exclusiveformer-best-buy-company-makes-offer-for-dick-smith-tipped-to-be-accepted.aspx

Fingers crossed that it happens.

Yes it could be a very good thing :)

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gzt

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#1498848 24-Feb-2016 22:17

The main loser from that move would be The Warehouse group.

Warehouse could buy DSE and be a good fit turning a few into mobile technology stores. They would have to close a lot also which would be painful but at least they are in a good position to absorb some staff locally here not so much aust.

Either way Five Star might find it very tough going in the NZ market and have little impact in the long term. Are they in any western-ish markets at all outside China?

amiga500

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#1499043 25-Feb-2016 10:58

gzt: The main loser from that move would be The Warehouse group.

Warehouse could buy DSE and be a good fit turning a few into mobile technology stores. They would have to close a lot also which would be painful but at least they are in a good position to absorb some staff locally here not so much aust.

Either way Five Star might find it very tough going in the NZ market and have little impact in the long term. Are they in any western-ish markets at all outside China?

All speculation on my part of course but if they are considering closing 45% of the stores could that mean they would close all the NZ stores & just concentrate on Australian major cities & a move to super stores?

dejadeadnz

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#1499249 25-Feb-2016 16:56

Just saw the Herald app's notification that all Dick Smith stores in NZ and Australia are to close. Now maybe we might actually get some innovative businesses into the locations that DS are currently occupying. I feel sorry for the staff but in the long run this is for the best.

ajobbins

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#1499250 25-Feb-2016 17:00

http://www.news.com.au/finance/business/breaking-news/dick-smith-to-close-its-doors-for-good/news-story/151dea23d97fce66d3a64cf0dfb10149

Twitter: ajobbins

wellygary

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#1499255 25-Feb-2016 17:05

ajobbins:

http://www.news.com.au/finance/business/breaking-news/dick-smith-to-close-its-doors-for-good/news-story/151dea23d97fce66d3a64cf0dfb10149

All over rover, time to buy anything you want before it sails off into the history of retailing

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gzt

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#1499257 25-Feb-2016 17:09

NZ Herald:

"receiver James Stewart said. "The offers were either significantly below liquidation values or highly conditional or both."

Below liquidation value? Is there a stash of 56k modems we didnt know about? :: p

networkn

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#1499259 25-Feb-2016 17:12

A shame for those affected. I believe people should be held to account for this.

BAWAHAHHAHAHAAHHAHAHAAAHAHAHA

Sorry I just remembered I don't believe in fairy tales, unicorns or white collar criminals being held to account.

DarthKermit

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#1499260 25-Feb-2016 17:13

Since DS in Palmerston North changed into a flashy retailer selling a lot of junk consumer electronics, I've never purchased anything from in there.

I wonder if there will be any fire sale prices and anything actually worth buying?

33coupe

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#1499261 25-Feb-2016 17:15

If they based their stock on $35 HDMI cables etc, then yeah offers would be below the so called liquidation value.

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